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| | | ACI Luxembourg, The Financial Markets Association a.s.b.l., was founded in 1957 under the name of Forex Club Luxembourg. In 1998, Forex Club Luxembourg changed its name to *ACI Luxembourg -The Financial Markets Association *
The statutory meeting was scheduled at the premises of the Luxembourg Stock Exchange on the 5th of February 1957. At that time, and out of ten local banks, 32 volunteers founded the Forex Club. Between 1957 and 1967, the number of memberships was more or less stable. However, with the arrival of the Euro Banks in Luxembourg, the number of our members increased significantly, so that in 1971 the Club already had 75 Members.
At the celebration of our 25th Anniversary in 1982, the number of members was 403, and at our jubilee of the 40th Anniversary in 1997 we had a total of 708 international members, the highest membership figure of our history. Since this period, our Association faced a continued decrease of members due to mergers and dealing activities centralisation. Today, the total of our members is around 500, in addition to another 53 Honorary Members.
Up until now, our Association was chaired by 10 Presidents, MM .Victor Steinmetzer, Marcel Reckinger, Bob Reckinger, Claude Deschenaux, Marcel Rix, Eugène Prim, Guy Rommes, Werner Loretz, Jean Thill and now Joseph Hensen. The Secretariat work during all these years was assumed by Pierre Altman, Marcel Rix, Francois Wunsch, Alfred Pletschet and Patrick Picco.
Following its creation, The Forex Club Luxembourg joined the Worldwide ACI - The Financial Markets Association in Paris and became the 12th affiliated Association. Since long ago, we have been able to claim that ACI Luxembourg belongs to one of the most important Associations in the world with 14.000 members spanning across 75 countries.
Recognised as a multi-cultural, multilingual and cosmopolitan Association, during this half century, ACI Luxembourg has been able to surmount all major difficulties, and was also able to modernize the structures as well as to adapt itself successfully to the changes of the International Markets new Directives. Challenges were always addressed properly, and even during the merger and acquisition period, the membership of our Association has continued to remain stable. Not only active on a local level, ACI Luxembourg is also well represented internationally by being a Member of several Executive Committees.
Furthermore, during these 50 years of existence, ACI Luxembourg has organised several important events. You certainly remember the remarkable event in 1983 with the organisation of the 25th Annual General Assembly where about 1000 delegates from abroad attended. Another big event was in 2002 when our Association hosted the 6th ACI European Congress and the 44th Annual General Assembly of ACI. Moreover, a large number of conferences took place in our country, especially where distinguished speakers from all over the world have given their input with regard to Financial Markets.
Last October 2007, ACI Luxembourg celebrated the 50th Anniversary .This event started on a Thursday where previous ACI Presidents and the actual ACI Luxembourg Committee were invited at the Palais Grand-Ducal by the Grand-Duke Henri.
On Friday we organized our Academic Session at the Hemicycle Européen .The speakers were Mr Yves Mersch, Governor of the Central Bank of Luxembourg and Hans Blix, former head of United Monitoring, Verification and Inspection Commission (UNMOVIC) and current (2008) Chairman of the new formed International Commission on Weapons of Mass Destruction.
To conclude the celebration, on Saturday evening a gala dinner was organised. 450 people attended this event held at The Rock Hall building located in our famous steel region Esch-sur-Alzette, star of our economy in the 1970s-1980s.
It goes without saying that another important goal of our Association is EDUCATION to its younger members. Every year seminars, conferences and meetings on a professional level are organised. With the introduction of a worldwide licensed and certified diploma, ACI Luxembourg offers its Members a very high standard of quality in exercising their profession.
Joseph Hensen
President
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